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BANKING & FINANCENEWSLETTER

UBA Receives $150million Credit Line from AfDB 

United Bank for Africa, UBA Plc has secured a $150million Line of Credit, LOC approved by the board of directors of the African Development Bank Group, AfDB through its private sector window.

The LOC will help finance infrastructure and SME projects, including women-owned enterprises in Nigeria.

It will support infrastructure development, particularly the power sector, which is a major constraint for Nigeria’s economic diversification and inclusive growth.

UBA has for long led financial institution supporting various infrastru-ure projects, particularly power, telecom, transport and social infrastructure such as hospital and education facilities.

This has given the bank a lot of recognition and awards, including the Social Infrastructure Deal of the Year Award in 2015.

In its Nigerian operations, UBA supports over 3,700 Small and Medium Enterprises (SMEs) covering all the 36 states of the federation, through over 450 business offices and touch points.

 

 

 

 

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